market. it says follow the money if you want to make money. keep that in mind. these buybacks are huge, they keep stocks elevated, and you could make a lot of money just following what management is doing. as long as you're doing other things right, smart move. cheryl casone, back in for liz claman, cheryl, its been kind of lackluster, can you spark things up a little bit here? >> cheryl: we're going to talk and the fact this is the two year anniversary of those pandemic lows what i was actually in this chair hosting this show, charles, i mean, believe it or not, two full years since the market hit the pandemic lows selling off as the s&p 500 pulls back from five-week highs today, as you can see , on your screen right now, the s&p is down by 42, dow down 372, nasdaq down 135. oil climbing above $114 per barrel, we're almost to 115 right now as you can see on your screen, a lot of breaking news coming up during this hour about

the markets. the fighting is growing more intense on the outskirts of kyiv , as russia's invasion of ukraine hits day 28. president joe biden is headed for the region to impose new sanctions and meet with world leaders. we're going to go straight to brussels for a live report, the president set to land within the next hour in brussels. now, all of this comes as nato is beefing up defenses and sending ukraine chemical biological and cybersecurity equipment. u.s. officials warning of possible new russian cyberattacks what would that likely target? the ceo of cybersecurity firm trust inspect is here for a fox business exclusive and did you see this , new home sales flipping. does this mean the seller's market is coming to a close as mortgage rates continue to rise, 4.5% this morning we'll have the ceo of real estate brokerage redfin, that's coming up during the show, and a fox market alert for you right now,

because the energy market is setting a very bearish tone on equities right now, the dow falling as much as 429 points, the s&p 500 below the 4,500 number as you can see on your screen down 38 points and change nasdaq is down 125. now, the energy hits a buzz on supply concerns from russia, wti making another big moved to, again we are up almost to $115 right now this is the aftermarket. brent is higher as well, that's the international contract we follow, 121 and change. again, major moves in oil, all of this as russian supplies go offline. now, stocks in the energy sector have been really ones to watch today we've been watching marathon, baker hughs, eog resources, all of these numbers as you can see green on your screen. these are gushing numbers, and it's worth noting, folks, that the dow jones industrial average , the s&p 500, and the

nasdaq composite all close after pandemic lows exactly two years ago today. can you believe its been two years? it was march 23, 2020. you know, even with the recent volatility that we're seeing, the s&p 500, the nasdaq have at least double until then and i was looking at the numbers and we're going to talk a lot more about it but if you look at this , it's an 85% jump over two years for the dow, a 100% jump for the s&p. 103% jump for the nasdaq, so again, two years and boy, we're lucky that we are not sitting where we were two years ago for several reasons as it was the height of covid and the lockdowns that ghana cross this country. dark times, not dark today, we are much better now for it than we were two years ago. all right s&p 500 top performers , since march 23 of 2020, look at these names, tesla , devo nfl energy, apache, two years ago by the way the fed had cut rates abruptly by 50 basis points due to the pandemic

they were in emergency mode like the country was. well now, they are on track to hike by that exact same amount at their next meeting as the war in ukraine is raging on. let's go to our floor show, so much to discuss, bringing in the alexander capital cio larry shover and sea port securities teddy weisberg. larry, to you first. again, we have to mark this two year anniversary because obviously, we were in such a dark space. the markets were in a dark space the country was in a dark space. your thoughts? >> my thoughts are the markets are conflicted, trying to metabolize all these momentum shifts in the last four months. it goes without saying, we talk about ukraine and russia, but like also the energy storm. low inventories, low investment is higher oil here to stay, monetary policy normalization, we knew it was coming but coming a little bit faster and more frequent than we thought and then covid reopening. last but not least, industrial metals. are we in a supercycle for them,

or is it energy transition going to peter out and perhaps change our whole policy, so all that to say, i think the markets are trying to make sense of it all and the fact that the markets are up as much as they are year-to-date even though i know they are negative it's actually a good thing the market, people might be over -pricing or over-thinking the stagflation environment which i don't think we have. >> cheryl: and teddy to be clear, there is still a lot of talk about a possible recession in the second half of the year. there is concerns about gdp actually contracting at some point, i mean, these are pretty dire predictions and kind of the most bearish that we found, but still, teddy, there is concern and rightly so. we didn't know that we're hitting lows on the market two years ago. we thought we had further to fall and we didn't. same thing this year, today. we still don't know what the outcome is going to be between russia and ukraine. >> well of course, cheryl, this is what markets are all about. it's all about the unknowns.

if we knew the answers to all those questions, we would all be sitting on our yacht some place watching somebody else on tv pontiff it indicate on the topic you know, but if you go back forget the last two years, how about going back to march of 2009, cheryl. the dow was 6,500 and it's now 34, 400. that's up five times, and if you want to use the last two years or if you want to go all the way back to march of 2009, the one common denominator is and was an accommodative fed. you had long periods of time with zero interest rates, but even when they started to move rates higher in 2014, they did it very slowly and in fact, that all stopped in february of 2020 before the market broke. >> cheryl: broke is a good word, teddy. yeah, that's a good one. larry back to you on that, because look goldman sachs put

out a note early yesterday saying they think they are going to see 50 basis point hikes from the fed at both meetings in the may meeting and in the june meeting, so look, we can say that they're behind the curve and many people already have on our air that the fed is late to the party, but still, those are pretty aggressive moves. >> they are aggressive moves and i think the fed is trying to prove themselves to be a decent inflation fighter. i mean, they don't have a good track record of being one, but i think they are trying to be as best as they can, especially when chairman powell yesterday socialized the 50 basis point rate hike in may and was entertaining the idea. all to say our rates are still really really low. i mean, we have sticker shock, when we see mortgages have gone up 1.5% in the last six weeks but they start at a very low rate. gdp is still strong. household savings is through the roof. corporate balance sheets are fairly sturdy, and the jobs, you know, jobs numbers are still

really good. so i continue to be bullish on the market and it's a good time to take advantage of those who are overpricing the stagflation scenario. >> cheryl: your final thoughts , teddy? >> well, unfortunately, larry, i don't agree with him. i think the fact we've had a huge shift in the fed's position , we're going into a period probably a long period of higher rates primarily because of inflation and the fact that the fed was well-behind the curve and the real risk here is that the fed underreacted when they saw inflation and now they overreact, but the bottom line is rates are going higher, and at some point, that will be a tipping point for equities and it's not good for the equity market. >> cheryl: it's already a tipping point for the housing market and we're going to talk about that later on. 4.5% on a 30 year guys this morning, that's incredible. that was the biggest projection i've seen and supposed to be december for four and a half and it march. larry shover, teddy weisberg,

guys thank you very much. >> thank you. >> cheryl: well, fox business alert for you. meme stocks say gamestop tacking on to gains from yesterday when the video game retailer rose 30% chairman ryan cohen's investment company bought 100,000 shares. there's gamestop, stock is higher by more than 12.5%, amc was a top trending ticker on meme stock site ape wisdom, according to partners, shortsellers in three original meme faves, gamestop, amc and tesla, lost $2.32 billion yesterday. okay, tesla is back in the trillion dollar market cap club, as it tracks toward a seven session winning streak up 34% over that stretch. the move maybe due to tesla opening its germany's manufacturing facility yesterday and ceo elon musk tweeting earlier this week about his master plan three, which may

involve scaling up tesla, but again that news, that german news, a big jump for tesla as you can see. it's kind of come back a little bit. it was stronger earlier in the session. adobe one of the biggest laggards today after a lackluster current quarter forecast. the photoshop maker has been facing increasing competition and expects a revenue impact of 75 million for fiscal year 2022, as it halted product sales in russia and in belarus. well, starbucks baristas voting to unionize in a coffee shop for the chain originated. workers at a store in seattle voted 9-0 in favor of joining a labor union. that store is the seventh starbucks location in the u.s. to join the union, and has also been a change at the top as you all know for starbucks with the ceo leaving and howard schultz going to be stepping in for sometime. well, as the bombs fall in ukraine, u.s. security officials are worried about increasing

tensions in cyber space. the ceo of cybersecurity firm trust is here to tell us if russian hackers are targeting american government agencies and businesses big and small, and taking a look at the big board again, we do have red across it, the volatility continues a lot of this is tied to what we're seeing in the oil market. got oil jumping today, except for those energy stocks, pushing pressure, putting pressure on equities dow down 356 the "clayman countdown" will be right back. i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support

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>> cheryl: breaking news right now, i want to show you these live pictures, the white house covid-19 task force is holding its meeting, this is secretary b ecerra, dr. fauci, all three are in this meeting, and rochelle wolenski she is virtual but the three gentlemen are in the room together. just a few moments ago, she actually said the daily covid cases are down 9% across the country, from the previous

week, so hospitalizations are also down, they said 23%, deaths around 26%, so this news is coming just hours after moderna announced its seeking approval for its covid-19 shot for children from six months to six weeks of age, moderna also saying they are going to file for emergency use authorization with the fda, but again, secretary becerra, dr. fauci, jeff science and rochelle wolens ki are holding a briefing wanted to give you an update on that. >> we've got more breaking news to get to you right now. the u.s. is accusing russia of committing war crimes in ukraine today, officially. its been nearly four weeks since russian president vladimir putin began the invasion of ukraine. nato today estimating that seven to 15,000 russian soldiers have been killed fighting the ukrainian defense minister today claiming his troops have regained control in a counter attack in the kyiv suburb

, as russia is accused of seizing 15 rescue workers and drivers from a humanitarian evacuation convoy in mariupol pulling drivers out of the buses and arresting them on the spot by the way. nato also saying today it's going to create four new battle groups in bulgaria, hungary, romania and slovakia and send more military support to ukraine including gear to protect itself from russia's nuclear chemical, biological, and radiological threats. cybersecurity equipment and supplies as well. now, all of this , the back drop , the fbi issuing a warning today, that u.s. energy companies have drawn an increased interest by kremlin -linked russian hackers, although there's been no indication of a cyber attack and without giving any specific names out, the fbi did say that there are five energy firms who are the most vulnerable, plus at least 18 other companies, in the defense industrial and financial sectors who are at risk for a russian cyber attack.

now, president biden expressing his fears earlier this week russian cyberattacks are coming and u.s. companies should immediately take action to reinforce their defenses putting the onerous on them, we should add. joining me now in a fox business exclusive is former nsa hacker, the founder and ceo of information security consulting company trustedsec, david kennedy. great to have you here. your reaction to this increased chatter, if you will, from intelligence sources and from the fbi they are worrying about energy companies. are you worried? >> we're definitely at a heightened alert and a number of companies are taking this as a very credible threat. russia is going to be looking at how can they impact the united states in its western allies perspective and make some sort of pain or adjustment in political stance geopolitically and cyber is one of those methods russia uses heavily so there is definitely a large cause for concern and we

are seeing exploratory methods of russia going and reaching out as you mentioned, these five energy companies as well as other industry verticals, logistics is another key concern, logistics supply chain, financial, and critical infrastructure, are some of the most least-secure as well as the most vulnerable areas that we have that we're paying very quick attention to right now. >> cheryl: you know, most of the russian hacks that we've reported on and cover through the last several years have been financial attacks, but this is different. if russia were to come after u.s. companies or say power grids, it wouldn't be for financial gain. this be for harm. wouldn't that mean that these cyberattacks be more devastating to the united states? >> yeah, when you're talking about going after critical infrastructure, and that's water treatment facilities, energy production, our normal way of life, it could definitely have a catastrophic effect, in fact it could have an impact of loss of life. i think that's what everybody is super-concerned about right now in our critical infrastructure is extremely vulnerable you're

talking ancient technology that is very hard to upgrade. it's very hard to defend against , and it's an area we've known for a number of years that is vulnerable but it's going to take 15, 20 if not more years to actually secure our critical infrastructure, so it's one of those things that's very vulnerable and we're extremely concerned about it and could have a major impact on our way of life here in the united states. that's why you look at both defensive measures that president biden came in yesterday and said about but also our offensive capabilities, how can we hit russia back very quickly from a cyber capabilities perspective and inflict equal or more greater amount of damage from a cyber perspective to shut those down so there's a lot of things going on right now that are cause for concern and heightened escalation especially in the cyber arena is never a good thing. >> cheryl: let me ask you about thisment counter-attack. we know russia has some pretty savvy hackers under their perview but don't we as well in this country? can't we fight back? >> we absolutely can, and we absolutely do.

those are the things that united states is absolutely preparing for and has been preparing for for a number of years. we always look at military preparedness. how can we impact our adversary in a negative way to inflict catastrophic damage from a cyber warfare perspective, shutdown military communications, shutdown the overall communications, financial sector , cripple whatever we possibly can, so if we did see a massive offensive here from russia, to the united states, we would absolutely see a counter offensive occur from our folks here, our hackers here, they are various ins agencies also going after russia in a number of ways we also have cyber command which is a direct extension of our military that are also very capable at launching offensive capabilities as well as defensive measures as well. this is an interesting arena and it be the first that we would ever see two nation states really going at it from a true cyber warfare perspective, versus actually just hacking into individual companies, or intellectual property theft or things like that, anything like that. it be a really interesting thing to see. >> cheryl: well hopefully it doesn't come to that and i'm assuming that vladimir putin

knows the risk is pretty high to wage that type of cyber war, if you will, on the united states. right now his eyes are in ukraine. we hope it doesn't go further, david kennedy thank you very much for your time. >> thank you so much appreciate it. >> cheryl: well, while the world searches for diplomacy one of our nations finest diplomats has died. madeleine albright, the first female u.s. secretary of state, passing away today from cancer. that's according to a statement from her family. then-president bill clinton chose albright as america's top diplomat in 1996 and she served in that capacity for the last four years of the clinton administration, actively promot ing the expansion of nato. madeleine albright 84 years old.

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>> cheryl: spirit airlines announcing today it's adding four affordable non-stop flights

from coast to coast at a new york airport these options are available this summer and as travelers wrap up spring break and start to make plans for summer changes may be ahead. major travel executives are asking the white house to lift pandemic restrictions, and trying to fill seats as airline fares a send at a rapid pace in rising jet fuel prices, jeff flock, you are live at philadelphia international airport, hi, jeff. reporter: pretty much you just told the story there, cheryl. it's a little bit of a storm both jet fuel prices as well as trying to get folks back. you know the whole thing as you see , i still got the mask on, you have to if you go to the nations airports or want to get on an airplane these days, and the travel pros say it's time. you need to relax the restrictions. fox business got a copy of the letter that they sent to the incoming head of the president biden's coronavirus team response team and i'll read it

to you gotta put glasses on to do it but they write, we respectfully urge you to quickly focus on replacing pandemic travel advisors, requirements and restrictions with end employee ic-focused policies of a new normal that enables travel to resume fully, freely, and safely. they say it's time. if you do wear a mask or if you don't, you're going to pay more for your ticket these days for the reasons outlined. we asked the folks at hopper to tell us, i want to make sure my mask stays on, to tell us what have the increases been on specific routes? overall about 30% up, since the start of the year, but jfk to lax, was $241 now $326. o'hare to lax two years ago was $118 round-trip, o'hare to los angeles now $321. miami to san francisco similar also up big time and the word is , it's going to get worse, one

of the reasons is jet fuel. you know, a lot of people don't know this , jet fuel is cheaper than gasoline we put in our cars right now, or at least on marcn of jet fuel was $3.33. i guess it's a break if you're thinking about what you're paying for gasoline but up 5% in the last week, up more than 30% in the last month, and doubling in price since this time last year, so cheryl, you know, it's good that we're getting out and flying again, but like everything else these days, it's going to cost you. >> cheryl: was it april 18 i think is when they've employee tended it to? reporter: the mask mandate. they want the mask mandate to be done by april 18. i don't know if that's going to happen. >> cheryl: i'll tell you something else they did a lot of research on was the filtration systems in-aircraft. no one is getting covid on a plane. i'm sorry but no one is getting covid on airplanes and its been

the safest place to be not just for flying, for safety, but for covid. so enough. reporter: you know, i flew as i think you know, i flew every week during the pandemic in the teeth of the pandemic, i flew every week, some of the flights had like six or seven people on them but i'll tell you i never got despite my best efforts i never got covid. so yeah. airplanes may have been the place to be. >> cheryl: congratulations or sorry to you, or not getting covid. reporter: sorry. >> cheryl: jeff flock. thank you, sir. appreciate it. stay safe in there. all right, well, look. there's another story, this is also kind of an end of the pandemic story. home prices are up but so are interest rates. that's creating problems for first time home buyers. we did a live report and the red fin ceo is here to tell us if he sees the seller's market remaining in the real estate landscape. all right let's take a look at

markets again, it's a two-year anniversary of the pandemic lows for the markets and we do have red arrows right now, dow down 341, s&p down 39 and nasdaq down 138. we'll be right back. meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank. alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much?

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>> cheryl: as the spring home buying season kicks off, here is a daunting stat. according to realtor.com, the u.s. median listing price soared to a record $329,000 in february. now, as speaking mortgage rates into the mix and where does that leave first time home buyers gerri willis joins us from scottsdale, new york. gerri? gerri: hi there, cheryl. that's right. high prices, a lack of supply, rising mortgage rates, all of that is forcing some first time home buyers out of the market. in fact, freddie mac says that the nation is 4 million starter homes short of what is needed.

we spoke to one first time buyer sal costello, about what he's seeing. he would love a house like this starter home behind me but he's been looking for a year and a half. made three offers and snagged absolutely nothing. listen. >> only in new york or in westchester with a make a six figure income and have to move into my parents basement to try and save more money to be able to afford a home. gerri: so half of first time homebuyers they say their biggest issue is affordability like we've been discussing, and another 27% say it's availability, as you know. i know you know, cheryl, inventories are down 15.5% year-over-year. at the end of the day, when you see a market like this with mortgage rates rising so dramatically, you would expect the market to slow down but agents are telling us more people are getting into the market. why? because they only expect these interest rates to go higher.

cheryl? >> cheryl: and they are jumping as we saw this morning 4.5% on the 30 year, gerri. the prediction was that was going to be the end of the year that we would see 4.5% on a 30 year, not march. it's just crazy. gerri: exactly. it's pretty scary for people out there for sure. >> cheryl: gerri willis live for us thank you so much, appreciate it great report. so mortgage rates are not the only thing that are going up rental and home prices are expected to rise even more this year, that's the prediction anyway. some cities have seen record highs in both areas. in a fox business exclusive i want to bring in the ceo of real estate website redfin, glenn kelvin. great to have you here. >> great to be here thanks for having me. >> cheryl: redfin, certainly not the only player but you are a major player in the real estate market, launching this brand new rental portion of your site. you're launching that today so you're getting into rentals, why >> well, one in three americans rent their home instead of own

it. you're going to move 13 times in your life, a to those 13 moves you'll be into a rental apartment so it's just a basic expansion of our mission to be able to help everybody find a home. >> cheryl: well, look, certainly, as gerri was talking about the fact that a lot of the first time homebuyers have been priced out of the market, maybe that changes later on in the year but for now they are out. they have got to rent. what is the demand picture like out there right now? is it as competitive and are the inventories as low as we've been hearing for rentals? >> inventory is low across-the-board. there's a structural problem in america we haven't been able to build enough homes whether it's for rent or for sale and investors have been taking advantage of that and so as a result, rents are through the roof, home prices are through the roof, the cost of capital is increasing, so that's going to be harder for homebuyer s but also harder for the people renting a home because that capital cost increase is going to be passed on to the people looking for a place to live. >> cheryl: also you've got people like blackrock, firms

like blackrock that over the last year, i've talked about it a lot, have been going out and buying huge chunks of homes. i mean we're talking whole divisions of homes in some of these markets. was that part of the reason you decided to get into this? >> it wasn't a reason we decided to get into it but it's certainly a trend that we've seen and it's probably an un intended consequence of credit reform there's so many people who can't get access to a mortgage so as a result they will pay whatever the rent is and investors are taking advantage of that fact, so you just have an audience of people where no matter what the rent is going to be, they are not going to be able to qualify for a loan , they aren't going to be able to buy a house that allows rents to rise. as a result, all these other people who own a house are saying screw it. i'm not going to sell it. i'm going to rent it out. individual landlords but also the big investors. >> cheryl: but then where do you go that's the question. u.s. new home sales data this is february, sales fell for the

second month in a row, okay? single family purchases down 2%, mortgage rates the 30 year this morning hit 4.5%. does this tell you that we are going to start to see these numbers fall and that eventually , values will come down on homes? >> well, there's certainly been a stepback in the market. i think the comparison to february of 2021 is a tough comparison because it was absolutely off the chain a year ago. what we're seeing is a decline in traffic not just on redfin .com but all real estate websites, lower activity for touring a home, not just with redfin brokers but across all brokerages, we're able to measure this data because we just have so many people on our website and what that means is that people are responding to interest rates, they are anxious about the increase in home prices, compounded with the cost of capital, so your mortgage payment is up 30% year-on-year, if you just take account of

those two factors, and there's some people who say enough is enough. other people are going to race to beat the rate, but some folks just can't do it anymore, and so i think you're going to see demand come down. it's still not going to come down to the point where it meets supply. we are in a supply constrained market. there just aren't enough homes for sale even if you cut in half the number of people trying to buy them. >> cheryl: a lot of the builders are trying to keep up with this , with demand, so i don't know. we'll see. especially if the supply chain is now better, maybe some of those materials are coming in, maybe you will see more inventory. >> it's better? i haven't heard that. >> cheryl: it's a little better according to my sources. okay real quick i've got to ask you, hot cities, hot markets everybody asks me this what are the hot markets? >> all in the sun belt so if you look at the affordable part of the country where taxes are lower, fort myers, florida, tampa bay, florida, albuquerque, new mexico, most of texas, although austin is finally getting priced out, those are the places everyone is moving to , and its been like they go

from seattle to portland to bois e, idaho looking for the next place with a great cost of living but also affordable housing. >> cheryl: and fresh air and a lot of room, a lot of room with a lot of backyard. that's the covid story. >> yeah. >> cheryl: all right, well really interesting. it's very interesting to see again you're getting into that rental market and we'll see if blackrock stays in the rental market or if they get out of it. they made a lot of money as well , but our viewers have too. thank you very much, glenn. >> thanks for having me. >> cheryl: it's good to see you as always. i love talking to you. well, fox business is also helping americans find their american dream home, that's every tuesday night at 8:00 and 8:30 p.m. eastern time hosted by me, that's only on fbn prime, " american dreamhome" and more new episodes are coming. we're at session lows, excuse me , on the markets right now we're also monitoring what's happening with the president.

president biden right now is aboard air force 1 and scheduled to land any moment in belgium. he's going to meet with world leaders, talk about the war in ukraine, up next we're going to head to brussels, get a preview of the president's international trip. now, let's take a look at what's happening with the markets. session lows folks again on the markets a lot is tied to the energy story. we talked about rising oil prices today again dow is down 388, we'll be right back. liberty mutual customizes your car insurance so you only pay for whatchya... line? need. liberty biberty— cut. liberty... are we married to mutual? only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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>> cheryl: top semiconductor ceos on capitol hill today making the case for 52 billion in u.s. subsidies to boost domestic chip manufacturing. the heads of intel, micron, lam

research and paccar testifying before the senate commerce committee earlier both senate and house passed versions of the chips act , the final language remains and intel ceo pat gelsinger saying passage is critical. >> building up of u.s. commercial capacity is essential for defense and national security. we seek to have vibrant, world- leading commercial capacity that can be leveraged for the additional requirements of defense and intelligence. >> cheryl: in other semiconductor news nvidia ceo announcing today he company is in discussions with intel to manufacture chips designed by nvidia. stocks of intel and nvidia, as you can see , different story intel slightly higher more than a quarter percent, nvidia down by more than 2.5% the global chip shortage continues. well, we've got breaking news right now, president biden is expected to touchdown in brussels, belgium, at any moment , aboard air force 1. he is going to be greeted, we expect, by belgium's prime

minister ahead of these meetings with world leaders at an extraordinary nato summit. and a g-7 leaders meeting as well, a lot is going to be packed in and he's also meeting with european commission officials as well as ecb officials. the commander-in-chief visiting belgium and poland to discuss the war in ukraine, focusing on security and european energy. jpmorgan chase ceo jamie dimon met with the president at a business roundtable event on monday and he reportedly urged the president to create a marshall plan to aggressively improve domestic energy production, to reduce europe's reliance on russian energy. edward lawrence traveling ahead of the president, he joins us now live from brussels, belgium, with a preview of the president 's third international trip and edward, from the looks of schedule, it is going to be a busy one. reporter: it's a very busy one. the president tried that zoom thing, now he's going to try this in-person. behind me is the brussels town hall, you see there's a little

yellow, it's yellow on the bottom, blue on the top that's in support of the ukraine people. now the president bringing a message here for nato as well as other european leader s, however the president not saying before he left exactly what that message is. >> i'm going to say that to their face. i'm going to say all i had to say, i'm going to say it when i get there. reporter: national security advisor jake sullivan says that the president will sanction, offer new sanctions on russia in coordination with the european union. 300 russian lawmakers will be under sanction and the leaders will also be asking the president to have the u.s. export more lng and natural gas into europe here and that would mean a change in energy policy, which has not happened in the name of climate change in the u.s. , what's interesting though, the european union announced plans to back off its own green deal, specifically with farmers. the proposal backs off banning

pesticides and relaxes regulations to increase agriculture lost by the invasion of ukraine. it also gives farmers 550 million u.s. dollars, the equivalent of in financial aid package. this as the head of nato warns about the possible threat posed by the chinese. listen. >> beijing has joined moscow in question the right of independent nations to choose and china has provided russia with political support including blatant lies and disinformation, and allies are concerned that china should provide material support for the russian invasion reporter: nato also expected to warn the chinese as the head of nato said that they're moving more troops to the eastern part of nato countries to fortify just in case. back to you, cheryl. >> cheryl: edward lawrence a

busy two days coming up for you of course traveling following the president through all meetings, edward lawrence live from brussels. well, with all the focus on european energy, today's countdown closer has one domestic nat gas producer he says could benefit the most. find out what it is in a moment. closing bell rings in exactly eight minutes, we are again pushing those session lows, we are at session lows just off of it we were down 429 at one point but we're right there, folks. dow down 404, nasdaq, s&p negative as well we'll be right back. ♪ ♪ it's electric... made extraordinary. ingenuity... in motion. it listens, learns, adapts and anticipates your every need.

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as an independent financial advisor, i can ate anything. like, i don't have to worry. i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com ♪. cheryl: closing bell will ring about four minutes from now. we're at session lows right now. major averages on pace for a

second down day in the last three. we've been talking about it all through the show. here it is, two years ago on this day i was one leading you through the final hour when the dow, the s&p, and the nasdaq closed at their pandemic lows. even with how volatile markets have been the s&p, nasdaq have doubled since then. the dow gained 85% in two years. s&p at 99%. nasdaq up 103%. look, these pictures. it was dark. it was scary, the streets outside our studios were empty. really scary time at the time. here we are two years later. all right. national security advisor jake sullivan saying earlier that european energy issues are going to be a hot topic while president biden meets with nato leaders. sullivan saying the u.s. will look for ways to increase liquified natural gas supplies to europe. the administration already

authorized additional lng exports from two major u.s. facilities. facilities run by one of our countdown closers stock picks. hennessey funds chief portfolio manager ryan kelly. ryan, who is it? >> thanks for having me on. the company we're talking about today is cheniere energy, ticker lng. this is the only pure play natural gas exporter, liquified natural gas exporter out there. they started exporting natural gas back in 2016. back in 2015 we exported zero natural gas as a nation. and now we, as of december of last year, we are the world's greatest, highest exporter of natural gas. our natural gas goes to asia. it goes to europe. it has gone down to south america as well. really this story of cheniere is about the growing importance of

natural gas around t t wld wor. ofof. u uatal g aroun arod t rld. apaom 1di1 timim gs we i otwe iwewowo our o fun alac.al.. llsrgiongyytyunun nd. t hink nknkotototototorot t g t g . ot jus ey e sge s s s s s s s s potentiallnty lnt a lttouple eriesiesatee hik h h cominginm the fed, fedayuneees. talk abolkboalans, ts,ss,s, grougr some of these names. you think financials have room to run. is that because the fed will hike rates? is that something else you're seeing? >> it is primarily because the fed is hiking rates. financials are in a pretty good spot right now. asset quality is great. plenty of deposits on the balance sheets. still making lots of money although margins have come down

in the last year-and-a-half. what they really need are twofold. you really need a higher interest rates, a steeper yield curve. year not seeing that yet. we really want that a little more. and that will help margins. last thing we want loan growth. we've seen the last two quarters, loan growth has really increased. so we do like the regionals. we like the, some of the companies that can acquire other companies and grow that way. first citizens of north carolina, right in my backyard, is one of those companies. trading at about eight times next year's numbers versus the overall space at 11 times. we still think there is a good story here. some larger banks will have issues. citibank and russia. regionals look pretty good to us. cheryl: all right. there is a lot to unpack in there to search through even if it is a simple etf or index. our viewers own a lot do. thank you for your picks, ryan

kelly. appreciate it. ii want to point out we're at session lows for the dow in particular. 440 is the session low. 444. nasdaq and s&p also are hitting session lows. [closing bell rings] there are the bells, another rough day at the office for markets. that will do it for "the claman countdown". i will see you tomorrow at 2:00 p.m. "kudlow" is next. ♪ larry: hello, everyone, welcome to "kudlow," i'm larry kudlow. as we speak president joe biden is on a plane to brussels for an incredibly important nato meeting and a g-7 meeting to deal with the russian war in ukraine. for this incredibly important set of meetings joe biden has to be an incredibly strong american president. he must lead. he must not be afraid to call out vladmir putin as a war criminal who is committing